New permit gives investors long-term wings
The Namibia Investment Promotion and Development Board has launched a new five-year investor permit to replace the previous two-year employment permit. This initiative aims to improve the ease of doing business and provide long-term security for investors and their staff.
Why it matters
Enhanced visa certainty is a key policy tool for developing nations to attract foreign direct investment and stimulate sustainable economic growth.
The Namibia Investment Promotion and Development Board has urged current and potential investors to apply for the newly launched employment permit as it has distinct advantages over the old permit.
This comes after the launch of a new five-year employment permit to conduct business (investor permit).
This permit offers significant improvement in that it functions as work authorisation, giving qualifying investors and their core staff added certainty for long-term planning and business operations in Namibia.
The current standard employment permit lapses every two years.
According to the Namibia Investment Promotion and Development Board (NIPDB), the investor permit will enhance the country’s ability to attract and retain investors who contribute to sustainable economic growth.
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